Battered GE shares lure some buyers but worst may not be over

FILE PHOTO – The ticker and logo for General Electric Co. is displayed on a screen at the post where it’s traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 30, 2016. REUTERS/Brendan McDermid/File Photo

By Lewis Krauskopf

NEW YORK (Reuters) – General Electric Co shares stabilized after a brutal slide last week sent the stock near six-year lows, but the worst may not be over.

Some investors still do not see enough value to warrant buying the shares, which have lost some of their luster as a blue-chip investment.

They are sorting through massive changes announced by GE’s new Chief Executive John Flannery last Monday: hugely reduced near-term profit-growth prospects, a halved dividend, and a wave of promised divestitures.

“In a sense, the stock is trying to find an investor,” said Scott Lawson, vice president of Westwood Holdings Group in Dallas…